I dont think they can insure BTC funds.And i think calling this a bank is just a method to get this hyped here, im sure there are alot of restrictions a PSP has compared to a bank.The IBAN thing looks great tho, but IBAN with just and ID scan??What will the transfer limits be?

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This is indeed huge and fantastic, thank you! It sets positive legal precedents and facilitatet spreading Biticoin to grannies and other nontechies. Bitcoin will benefit greatly from hybrid institutions and services which interface with (and superficially look just like) the legacy banking/money system. Extend and replace! Congratulations!

Congratulations. Sounds amazing. To use the services mentioned, debit card etc, do I have to live in the EU, or France, or is it available to everyone?

We won't have limitations regarding the citizenship of our clients.

He asked because the U.S. certainly does place requirements (on banks) for its citizens getting foreign accounts. Mostly it involves getting copies of copious identity documentation and reporting end-of-year summaries to the IRS (U.S.'s tax collection agency). Are you in compliance with these laws specific to U.S. citizens?

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This is actually the biggest news ever if you ask me. We are talking about operating as a bank here people, that ALLOWS us to transfer money to a REAL account that is expecting money to come in with the sole (semi-sole) purpose of doing BTC to/from Fiat exchange. Wow, congratulations guys, you did something that is actually BIG.

I have a couple of questions:

- You said you are accepting corporate accounts? If so that means that we can open company accounts, get a debit/credit card for such and at the same time exchange BTC on the fly from that account?

- You said everyone gets their own IBAN, which means a bank account. Do we also have internet banking facilities?

Also, I would like to discuss something in private with you, banking wise, can we get in touch over email?

Congratulations. Sounds amazing. To use the services mentioned, debit card etc, do I have to live in the EU, or France, or is it available to everyone?

We won't have limitations regarding the citizenship of our clients.

He asked because the U.S. certainly does place requirements (on banks) for its citizens getting foreign accounts. Mostly it involves getting copies of copious identity documentation and reporting end-of-year summaries to the IRS (U.S.'s tax collection agency). Are you in compliance with these laws specific to U.S. citizens?

They'll be running under the French & EU banking regulations - so the EU/US agreements will be applicable.

According to the IRS website & the US FATCA (ironically apt consdiering :p):

Quote

The Treasury Department has already concluded a bilateral agreement with the United Kingdom. Additional jurisdictions with which Treasury is in the process of finalizing an intergovernmental agreement and with which Treasury hopes to conclude negotiations by year end include: France, Germany, Italy, Spain, Japan, Switzerland, Canada, Denmark, Finland, Guernsey, Ireland, Isle of Man, Jersey, Mexico, the Netherlands, and Norway.

Each account will in a few months get its very own IBAN number, users will be able to use it as any other bank account, have their salaries and pensions sent there and have them automatically converted to Bitcoin if they so wish)[…]It's a big day for me and Paymium, and it's a major milestone for this community.